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The Cyprus Real Estate Market

There is some confusion on the new measures that the Government has decided for foreign people (non - E.U. members) to get a residence permit and even a Cypriot (E.U.) nationality through the use of real estate. Laws relating to leases of business premises should be listed in response to question 10.1. Those relating to zoning and environmental should be listed in response to question 12.1. Those relating to tax should be listed in response to questions in Section 9.
In April 2019, Cyprus property sales reached its highest monthly figure recorded since September 2008, following a 61% surge according to official figures from the Department of Lands and Surveys.Sales in the first four months of 2019 rose 23% compared to the previous year.



2018 saw a vigorous 6% growth in the overall property market, with industry experts predicting that the value of property will follow the same healthy pattern - albeit prices being held down somewhat by the surge of new projects being developed simultaneously and repossessed properties returning to the market.
Key factors that make Cyprus an attractive destination for investment, is the highly specialized human capital, the reliable legislative and regulatory framework, the stable tax system and the safety and stability conditions prevailing in the country.
Perhaps we will have the time to exchange some information how this scam was planned and is organized and how some of these international crooked estate agency firms suddenly left the island with the downturn of the market, whereas other have gone into a voluntary liquidation (obviously so that no (one can chase them).

If there is a separate title deed available on the date of the sale of the land, then the title deed is transferred to the buyer simultaneously with the full settlement of the price between the two parties (or their legal representative being present).
This keen foreign demand, coupled with the local interest as well as the added taxation on real estate, such as V.A.T. of 15%, has caused prices to move at a rate between the years 2002 - 2004 of around 15%p.a., whereas the very recent years prices have shot up by almost 20% p.a.
An upscale beachfront home would typically cost 4,000 to 5,000 euros per square meter, while a luxury home in Larnaca, the large city closest to Pano Lefkara, would run about 2,000 euros per square meter, said Sophia Morphis, an agent with Africanos Real Estate, which has the listing for this villa.

We also offer a wide selection of properties to suit customer's requirements from simple holiday apartments to Houses, dream villas, or investment properties such as Land, Hotels, Shops, Offices, business etc. Cyprus has always been a magnet to foreign homebuyers due to its plethora of business and lifestyle advantages.
If you are contemplating where to buy homes in Cyprus, and if you are buying for resale purposes, note that these properties are more attractive to the slightly older age group. If You want to move into one of the most beautiful countries in the world or start a business there, the purchase of inexpensive real estate in Cyprus is the perfect way to fulfill your dream.

This is because the Turkish government of North Cyprus did not encourage foreign investment of property in their country. If the reduction of the foreign demand reaches 50%, it cyprus property will produce a loss of 10% of the total market and based on a prediction of a local demand drop of 20%, it may cause the reduction in the property prices of around 20%-30%.
Chris Michael Real Estate are experts in the real estate for Cyprus property sales & provide a range of essential services. Certified Real Estate 335 for Cyprus Properties. In addition, the real estate agent works with the government to secure your Cyprian residential visa which will allow you to purchase property in Cyprus.

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